Citing opportunities in its S&D and Wireless businesses, Needham sees top and bottom line growth strong for Anaren (NASDAQ:ANEN) in 2011.
Needham says, "Anaren delivered solid 2QF11 results, with upside mitigated by a facility expansion, which we nonetheless view as an encouraging sign. With strong demand in its higher margin Wireless business and a historically high level of opportunity in its S&D business, we think the company is positioned to show solid top and bottom line growth...Our forward estimates are largely unchanged for F2011 and F2012, though we introduce C2012 estimates of $201MM and $1.50 NG EPS. We have left the potential reduction in reported R&D expense referenced above as potential upside to our model."
Needham & Company maintains a "Buy" rating on Anaren (ANEN), which was trading at $20.89, down $0.27, or 1.28 percent, as of 1:53 PM EST. Needham boosted their price target on Anaren from $22 to $24.
No comments:
Post a Comment